The prices of bean products in futures are all high in recent months and low in far months. Why is soybean oil low in recent months and high in distant months?
The trend of soybean oil and palm oil follows the trend of crude oil, and the correlation is relatively large. Crude oil is near low and far high, mainly because everyone is optimistic about the future trend of crude oil. Steel futures are also near low and far high, and iron ore prices are expected to remain relatively high in the distant month. The spot of soybean meal is high, and the futures are partly low because of COFCO hedging.